Seadrill announces Brazil contract award of $498M for West Tellus

Seadrill (SDRL) “announced the ultra-deepwater drillship, West Tellus, was awarded a 1,095-day contract for the Sepia and Atapu fields in the Santos Basin, offshore Brazil, following a competitive tender process. The contract, awarded by Petrobras, will contribute approximately $498 million to Seadrill’s order backlog, including additional services and excluding a mobilization fee of $41 million. The program is expected to commence in the first quarter of 2026 and includes an optional period of up to 305 additional days. Petrobras holds a 65.7% stake in the shared Atapu field, a 55.3% stake in the shared Sepia field and is the Operator in both areas.”